5 Trends Driving the Sweeping Wave of Change in Retail
Source: Retail Information Systems News
Dinesh Bajaj, Infosys SVP and Industry Head, Retail, Consumer Goods and Logistics, highlights the many changes that have taken place across the retail industry within the past year, noting five key trends for retailers to take into account as they determine what shifts will dominate the market, which trends are no longer relevant and identify emerging changes worth monitoring. Dinesh talks about how consumers will increasingly seek personalized omnichannel experiences, and that data at the right time will help design dynamic business strategies to cater to unique consumer preferences and needs. He also points to the blurred lines between e-commerce platforms, how consumers expect retailers to follow all required regulatory compliance, and the need for retailers to prioritize the optimization of labor costs through automation. Dinesh concludes by emphasizing the importance for retailers to rethink their business models and sell directly to consumers, catering to the customer experience.